7 USC 7982 - National dairy market loss payments

U.S Code last checked for updates: May 18, 2024

§ 7982.

National dairy market loss payments

(a)

Definitions

In this section:

(1)

Class I milk

(2)

Eligible production

(3)

Federal milk marketing order

(4)

Participating State

(5)

Producer

The term “producer” means an individual or entity that directly or indirectly (as determined by the Secretary)—

(A)

shares in the risk of producing milk; and

(B)

makes contributions (including land, labor, management, equipment, or capital) to the dairy farming operation of the individual or entity that are at least commensurate with the share of the individual or entity of the proceeds of the operation.

(b)

Payments

(c)

Amount

Payments to a producer under this section shall be calculated by multiplying (as determined by the Secretary)—

(1)

the payment quantity for the producer during the applicable month established under subsection (d);

(2)

the amount equal to—

(A)

$16.94 per hundredweight; less

(B)

the Class I milk price per hundredweight in Boston under the applicable Federal milk marketing order; by

(3)

(A)

during the period beginning on the first day of the month the producers on a dairy farm enter into a contract under this section and ending on September 30, 2005, 45 percent; and

(B)

during the period beginning on October 1, 2005, and ending on September 30, 2007, 34 percent.

(d)

Payment quantity

(1)

In general

(2)

Limitation

(3)

Reconstitution

(e)

Payments

(f)

Signup

(g)

Duration of contract

(1)

In general

(2)

Violations

If a producer violates the contract, the Secretary may—

(A)

terminate the contract and allow the producer to retain any payments received under the contract; or

(B)

allow the contract to remain in effect and require the producer to repay a portion of the payments received under the contract based on the severity of the violation.

(Pub. L. 107–171, title I, § 1502, May 13, 2002, 116 Stat. 205; Pub. L. 109–171, title I, § 1101, Feb. 8, 2006, 120 Stat. 4; Pub. L. 110–28, title IX, § 9006(a), May 25, 2007, 121 Stat. 217.)

cite as: 7 USC 7982